2012 2:00:00 PM

Monday, October 8, 2012 2:00 PM
Sparks Legislative Building, 745 E. 4th Street, Sparks, NV 89431

Consent Items: 5.7

Title: Consideration and possible approval of Impact Fee Agreements #19 with TL Highlands L.P. to allow for participation and use of purchased credits in the Service Area Number 1 Impact fee program.

Petitioner/Presenter: John A. Martini, P.E., Assistant Community Services Director/John A. Martini, P.E., Assistant Community Services Director

Recommendation: Staff recommends that the City Council approve the agreement as submitted by Staff.

Financial Impact: There is no general fund impact. Approval of this agreement will allow TL Highlands to use purchased IFSA#1 Impact Fee Credits.

Business Impact (Per NRS 237):
A Business Impact Statement is not required because this is not a rule.

Agenda Item Brief: This Agreement is entered into for the Impact Fee Service Area #1(IFSA#1) impact fee credit program. Impact Fee Agreement #19 is a master agreement that will allow TL Highlands, L.P. to participate in the impact fee program. This agreement has been reviewed by the Impact Fee administrator and the City Attorney's Office and has been found acceptable. Staff recommends approval.

Background: This agreement is the City's standard master form agreement and establishes the adminstrative rules for the use of impact fee credits within Impact Fee Service Area #1. TL Highlands, L.P. will be utilizing impact fees purchased from an existing Impact Fee Credit Agreement.

Analysis: There is no analysis included with this agreement as it simply allows a new credit owner to use those credits in conjunction with development located within the service area.

Alternatives: The City Council could chose to deny the agreement and provide the City Manager with alternative direction.

Recommended Motion: "I move to approve Impact Fee Agreement #19 with TL Highlands, L.P. as recommended by Staff."

Attached Files:

Impact Fee Agreement 19.pdf

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